News

The government of Latvia plans to impose new fees on live
dealer casino games broadcast from the country, in a move that could hit
major suppliers such as Evolution Gaming and Playtech.

The Latvian parliament is expected to implement the new
fees from 2018, with Evolution noting that the business could be
"compromised" by the new fee, as its main live dealer
studio operates in the Latvian capital Riga.

However, it went to state: "Evolution regularly manages
new regulatory propositions and changes, and the company already pays licence
fees in several markets. The planned fee is not assessed to substantially
impact the company’s position."

The company added that there is currently no certainty that
the live casino fee will be imposed, given that it has been introduced by the
Latvian Parliament against the recommendation of the Cabinet of Ministers and
industry stakeholders.

Playtech, which opened a new 8,500 square-meter facility in
Riga this year – one of the biggest in the market – is also likely to be
hit by the fee, although the supplier declined to comment on its potential
impact.

Shares in Evolution Gaming AB (Co.Data) (STO:EVO) were trading
up 0.74 per cent at SEK546.00 per share in Stockholm Friday morning, while
shares in Playtech plc (Co.Data) (LSE:PTEC) were down 0.53 per
cent at 940.00 pence per share in London.